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ASOS profits soar 68% to £4.1m

1:32pm GMT, Monday, 17 November 2008

Online fashion retailer ASOS currently attracts over 4.5 million unique visitors each month. Online fashion retailer ASOS currently attracts over 4.5 million unique visitors each month.

Leading online fashion retailer ASOS continues to shrug off the economic crisis with another boost in half-year sales and profits.

For the 6 months to 30 September 2008, the company reported a 68% lift in pre-tax profits to £4. 1million.

Sales for the period rose 107% to £65.7m, boosted by successful launches of ASOS Maternity and its designer discount website ASOSRed, it said.

The period has been busy for the online retailer, with product lines rising 238% year-on-year to almost 20,000. It now stocks 700 brands and has almost one million customers – an increase of 135% and 95% respectively.

Nick Robertson, ASOS Chief Executive, is eying international growth for the company and has appointed ASOS’s current Finance Director, Jon Kamaluddin, to the role of International Director.

He said: “Despite adverse economic conditions, we have, with our strong balance sheet and operational cash flows, continued to invest in a number of customer focussed and strategic initiatives to support future growth. We are convinced that international expansion is a huge growth opportunity for ASOS.”

ASOS was founded in October 2001 and has grown continually over the past seven years to become the UK’s largest independent online fashion and beauty retailer.

For more information, visit: www.asos.com

By Natasha Piscitelli

Categories:
Business, Finance, IT, Retail, Technology



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